Valos Solar Ventures and Gehrlicher Solar America Corp. Announce Joint-Development of Solar Systems in California

Springfield, NJ, July 11, 2012 --(PR.com)-- Valos Solar Ventures and Gehrlicher Solar America Corp. today announced a strategic joint-development agreement focused on providing solar energy to the investor and municipal-owned utilities in California.

The companies are working together to develop sites for PG&E, SCE, SDG&E and Municipal Utilities for their RFO, RAM and Renewable RFPs as well as the recently approved Virtual Net Metering Bill SB 843. These sites are situated in high irradiance locations with available Interconnect capacity. The team has 235MW of projects in development with Gehrlicher providing the Utility-scale PV plant EPC.

“We believe strongly in the future of solar energy as a viable source for the country, not only from an environmental perspective but also as a competitive alternative to fossil fuel generation,” said Hugh Tarpley, CEO of Valos Solar Ventures. “We are pleased to team with Gehrlicher, a proven leader in the development, design and construction of utility-scale PV systems for the highly competitive California market.”

Stefan Parhofer, CEO of Gehrlicher Solar America Corp. commented, “This is a very important coupling of unique talents, combining Valos’ development capability with Gehrlicher’s large-scale PV system expertise. This partnership enables our vision of providing PV systems to the California market in which utilities can source electricity under grid-parity over the system’s lifetime. We look forward to working with Valos and their customers to provide this important energy solution.”

Valos Solar Ventures was formed in 2009 by energy industry veterans from Dynegy and NRG Energy to develop large-scale solar photovoltaic projects in California. Prior to creating Valos, the team founded Complete Energy, which financed, owned, and operated nearly 2,000MW of combined-cycle gas-fired power generation facilities in California and Mississippi. Valos Solar Ventures specializes in the development of generation facilities, including site selection, permitting, interconnect analysis, and project finance.

Gehrlicher Solar America Corp. is a subsidiary of Gehrlicher Solar AG, an internationally operating solar photovoltaic company based in Germany with subsidiaries and joint ventures in Brazil, France, Great Britain, India, Italy, South Africa, Spain, Turkey and the USA. The company, founded in 1994, develops, plans, builds, finances, and operates solar power systems. In addition, it distributes solar modules and inverters as well as components from its own GehrTec® product range. Gehrlicher Solar also plans and manages photovoltaic projects and private placements for private and institutional investors.